Halltown Company purchased a depreciable asset for $600,000. The estimated salvage value is $40,000, and the estimated

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Halltown Company purchased a depreciable asset for $600,000. The estimated salvage value is $40,000, and the estimated useful life is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset?
a. $70,000
b. $105,000
c. $112,500
d. $150,000